(AOF) – Carmat recorded a net loss of 61.9 million euros in 2021, compared to 37 million in 2020. The medtech was penalized by a non-recurring charge of 8.1 million, linked to quality problems that impacted some of its prostheses, which led the company to voluntarily temporarily suspend the implantations of its Aeson artificial heart on December 2, 2021. This impact mainly covers inventory write-downs. Carmat’s accounts were also affected by an increase in operating expenses to prepare for the commercial launch of Aeson.
The turnover for the 2021 financial year amounts to 2.2 million euros. It corresponds to the sale of 10 Aeson systems, including 7 commercially, in Germany and Italy, and 3 as part of the EFS study in the United States.
The immediately available financial resources, made up of cash of 39.2 million euros and the Research Tax Credit of 1.9 million, should enable Carmat to finance its activities, according to its current business plan, until the month July 2022, and this without additional funding.
The company also has the option of using the balance of the equity financing line (i.e. €13.3 million as of December 31, 2021) set up with Kepler Cheuvreux, valid until March 27, 2022.
The full use of this balance would extend Carmat’s financing horizon until September 2022. However, it is not certain that this balance can be used in full before the end of this line of financing.
The group is actively exploring different financing options, in order to secure the financing necessary to continue its activities beyond July 2022.
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Boost for French pharmacy
At the end of a recent CSIS, the French authorities announced an amount of credits (7 billion euros) never reached: 1.5 billion for hospital-university research, 2 billion for investment in health via bpi france , 1.5 billion in aid for the relocation of industrial projects, and 2 billion to strengthen investment in three sectors of the future (bioproduction, digital medicine, and pandemic preparedness). In addition, the annual growth in drug expenditure reimbursed by Medicare will be 2.4%, which should generate growth of at least 0.5% in the turnover of laboratories,
Above all, the normal drug marketing procedure will be accelerated (up to 500 days saved) if the medical benefit rendered is sufficient.